Coinbase is sued over funds related to the freeze and $55 million DAI theft case

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Deep Tide TechFlow News. On May 06, according to Cointelegraph, Coinbase was sued in a federal court in California in the United States. The case involves frozen funds related to a DAI network phishing theft worth $55 million in 2024. The plaintiff alleges that some of the stolen funds that can be traced flowed into Coinbase retail user accounts after being mixed through Tornado Cash, and are still frozen;

Coinbase says that the assets can only be released after the court rules on asset ownership. The lawsuit also states that the theft was related to the malicious wallet theft platform Inferno Drainer, and that the victims had engaged Zero Shadow and Five Stones Intelligence to track the flow of funds.

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